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Pricing in the marketing, advertising, and PR industry: How do you compare?

A key element of growing your marketing, advertising, and PR firm is keeping ever-vigilant watch over your competition...who are they? What space do they occupy? Why do they attract – and retain – the same clients you aggressively pursue? What marketing and sales strategies do you need to put in place to guard against competitive inroads and help secure a profitable, leadership position?

The bedrock of competitive analysis includes having a solid grasp of competitor sales and marketing practices - especially the fee structures, discounting guidelines, pricing approaches, and overall pricing models that can spell the difference between champion players and the also-rans.

With the Fees and Pricing Benchmark Report, you will learn exactly what the pricing landscape looks like in the marketing, advertising, and PR field, including:

• Does brand affect pricing?
• How often do firms discount their fees? How much of a discount is offered?
• What are the most important factors firms consider when pricing marketing, advertising, and PR services?
• What pricing strategies are most commonly used? Is the billable hour really dead?
• Are service guarantees being used? What do these guarantees cover?
• What do the firms that are premium priced do differently than the rest? Which strategies do they use more and less often? What factors do they consider important when pricing?
• What factors influenced price increases and decreases over the past two years?

Plus, this research provides a median hourly rate index by level of professional:

• Highest-level professionals (principal, senior partner, C-level managers, etc.) 
• Upper-level professionals (VPs, newer partner, etc.) 
• Advanced-level professionals (directors, experienced professionals)
• Mid-level professionals (managers, several years of experience, post-MBA, etc.)
• Entry-level professionals (new associates)

The Fees and Pricing Benchmark Report will allow you to measure your pricing strategies against the competition and determine if, and where, you may be leaving money on the table.

It will also provide keen insight into what the leaders in your industry are doing differently to stay ahead in a crowded market space.

The report includes special attention, analysis, and commentary for the following subsets of firms:

• Premium-price firms: Those firms who charge higher fees than the rest
• Profit leaders: Those firms who report higher profits than the rest
• Brand leaders: Those firms who are better known
• Price increasers: Those firms who have increased their prices over the last two years

Table of Contents

Section 1: Introduction
Research Highlights
Recommendations

Section 2: Pricing Strategies
Going Rates Pricing
Fixed-Fee Pricing
Value-Based Pricing
Hourly or Daily Fees
Introductory Service Pricing
Retainer Fees
Cost-Plus Pricing
Contingent or Incentive Fees

Section 3: Pricing Tactics
Challenges in Pricing Decisions
Factors in Pricing Decisions
Average (Median) Hourly Billing Rates
Discounting
Competitive Pricing
Service Guarantees

Section 4: Premium-Price Firms
Competitive Positioning
Pricing Decision Factors
Pricing Strategies
Hourly (Median) Billing Rates
Competitive Pricing
Discounting
Reputation Reach
Client Base

Section 5: Profit Leaders
Which Firms are Earning a Profit?
Pricing Challenges
Pricing Strategies
Annual Revenue and Profitability
Reputation Reach
Number of years in business

Section 6: Brand Leaders
Pricing Challenges and Decision Factors
Pricing Strategies
Hourly (Median) Billing Rates
Change in Fees
Annual Revenue Growth
Profitability

Section 7: Price Increasers
Changes in Fees and Pricing
Pricing Challenges and Decision Factors
Pricing Strategies
Change in Annual Revenue
Reputation Reach

Section 8: Larger and Smaller Firms
Pricing Challenges and Decision Factors
Median (Hourly) Billing Rates

Section 9: Firm Demographics
Annual Revenue
Company Size by Number of Employees
Role Within Company
Regional Location of Office
Portion of Revenue Coming from New Clients

Section 10: Methodology
Data Collection
Analysis

About RainToday.com
About Wellesley Hills Group
About the Authors

100% Money Back Guarantee

If you are not satisfied with our data, analysis, and charts, simply return Fees and Pricing Benchmark Report for a 100% refund.

Get your copy of Fees and Pricing Benchmark Report: Marketing, Advertising, and PR Industry 2008 today. Instantly download your printable PDF, or order a printed copy that will ship within 24 hours.

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